- The location expands on an adjacent 300MW site, purchased in
December 2023
- The site comes with an ERCOT-approved interconnect of
300MW
- Construction already underway, with long-lead time
items secured and energization scheduled for early 2025
FRANKFURT, Germany, May 24, 2024
/PRNewswire/ -- Peak Mining, part of the Northern Data Group ,
announces the purchase of a second 300MW ERCOT-approved site in
Corpus Christi, Texas. The
location is adjacent to the 300MW mining facility that is already
under construction. The site also provides energy in the attractive
low-cost power zone of Load Zone South of the ERCOT grid, known for
its abundance of renewable (wind) energy.
The investment represents a significant step forward in Northern
Data Group's investment strategy, cementing expansion plans well
beyond the current 2024 financial year.
The new site enables Peak Mining to accelerate its expansion
plans to become one of the largest bitcoin miners globally. The
company will be deploying indoor, custom-designed, fully-integrated
and liquid-cooled HPC data center systems to drastically improve
deployment time and infrastructure cost, bringing Peak Mining to a
leading position in the industry and preparing it for the future of
HPC compute.
Saxet Infrastructure Group ("Saxet") will act as construction
manager for the design, build and energization of the substation.
The Saxet team brings a strong track record of project
management and deep expertise with the construction
of HPC infrastructure.
Niek Beudeker, Managing
Director of Northern Data Group Platform, Peak Mining,
commented:
"The purchase of this second large site will significantly
shorten our time to hashing and kick off one of the fastest mining
expansions globally. We now have almost 700MW of sites in active
development, that when fully fitted with our latest-generation
hardware, could potentially provide up to 40EH of hash
rate."
Aroosh Thillainathan, Northern Data Group's Chief Executive
Officer, commented:
"This second data center location demonstrates how Northern
Data Group is able to harness the power and opportunity of HPC.
Sustainability has been at the core of this further expansion into
the US and thanks to the center's ERCOT approved status, we will be
able to scale our operations at speed, as the demand for digital
assets continues to grow."
Steven Quisenberry, Chief Executive
Officer at Saxet Infrastructure
Group, commented:
We are excited to support Northern
Data Group's expansion in the ERCOT market and
specifically to welcome them to the Corpus Christi area. The combination of
base load industrial demand and significant renewable resources
creates a unique opportunity for their portfolio. This is a
terrific example of one of the largest, most advanced liquid cooled
data centers in North America and
we are proud to partner with Northern Data Group
to bring their data center online.
Northern Data Group was advised on the
transaction by Katten Muchin Rosenman LLP
(Legal Counsel) and BitOoda Technologies
LLC.
About Peak Mining
Peak Mining, part of the Northern Data Group, is
powering the future of the blockchain network. We deliver
industry-leading operating and energy efficiency in bitcoin mining
through the latest hardware alongside innovative technology and
infrastructure. With our mining heritage dating back to 2013, we've
been innovating for over a decade and have been at the forefront of
the industry ever since. Our high-quality infrastructure is
purpose-built to power the mining network, and we're driven to
continuously find new efficiencies driving value for our investors.
We're delivering long term value in more responsible ways.
About Northern Data Group
Northern Data Group (ETR: NB2) is a leading provider of High
Performance Computing (HPC) solutions to businesses and research
institutions, utilizing GPU- and ASIC-based solutions. Our flexible
compute power fuels innovation in our three core business
platforms: Taiga Cloud, Ardent Data
Centers, and Peak Mining. Through our HPC solutions, we pioneer
ambitious computing innovation that drives progress in the AI, ML
and Generative AI industries. Our close collaboration with
industry-leading manufacturers including Gigabyte, AMD, and NVIDIA
is fundamental to the acceleration of innovation across sectors
including life sciences, financial services, and
energy.
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